China's Trade Surplus Reaches Record $1.08 Trillion in 11 Months

China's trade surplus in goods reached a record 1.08 trillion dollars for the first 11 months of the year, surpassing the previous full-year high, as exporters shifted shipments away from the United States amid ongoing tensions. The figure, released Monday by China's General Administration of Customs, reflects a 21.7 percent increase from the same period last year, with November's surplus alone hitting 111.68 billion dollars, the third highest monthly total on record.

Exports in November rose 5.9 percent year on year to 283.21 billion dollars, rebounding from a 1.1 percent decline in October and exceeding economists' expectations. This growth occurred despite a sharp 28.6 percent drop in shipments to the United States, which fell to 33.8 billion dollars, marking the eighth consecutive month of double-digit declines. Imports grew more modestly by 1.9 percent to 187.38 billion dollars, signaling persistent weakness in domestic demand.

The surge stems from a trade war between Beijing and Washington, which escalated under U.S. President Donald Trump's second administration through hefty tariffs on Chinese goods. Chinese exporters have rerouted products to alternative markets,...